David Hudson
New member
okay good idea
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Wave Analysis from InstaForex
- Thread starter InstaForex Gertrude
- Start date
IFX Yvonne
Member
okay good idea
Hi David Hudson! Do you want to receive Forex analytics newsletter to your email? Subscribe online and get the get the daily latest reviews made by professionals analysts of Instaforex company.
InstaForex Gertrude
Active member
EUR/USD Technical Analysis for September 13, 2016
Technical outlook and chart setups:
The EUR/USD pair rallied through 1.1325 level last week before reversing sharply lower towards 1.1240 level as depicted on the hourly chart. The pair is trading at 1.1230 level at this moment after printing interim highs at 1.1268 level, looking to turn lower again. The wave structure indicates that the pair has dropped lower in 5 waves earlier from 1.1325 through 1.1200 levels. Furthermore, the rally from 1.1200 through 1.1268 levels has unfolded in 3 waves (a-b-c), which is corrective. A bearish reversal from the current levels remains highly probable, with minimum downside potential towards 1.1150 level going forward. It is hence recommended to remain short from current levels, with risk above 1.1350 levels. Immediate resistance is seen at 1.1325 level, while support is at 1.1190 level respectively.
Trading recommendations:
Remain short now, stop is above 1.1350 level, a target is at 1.1150 at least.
More analysis - at instaforex.com
Technical outlook and chart setups:
The EUR/USD pair rallied through 1.1325 level last week before reversing sharply lower towards 1.1240 level as depicted on the hourly chart. The pair is trading at 1.1230 level at this moment after printing interim highs at 1.1268 level, looking to turn lower again. The wave structure indicates that the pair has dropped lower in 5 waves earlier from 1.1325 through 1.1200 levels. Furthermore, the rally from 1.1200 through 1.1268 levels has unfolded in 3 waves (a-b-c), which is corrective. A bearish reversal from the current levels remains highly probable, with minimum downside potential towards 1.1150 level going forward. It is hence recommended to remain short from current levels, with risk above 1.1350 levels. Immediate resistance is seen at 1.1325 level, while support is at 1.1190 level respectively.
Trading recommendations:
Remain short now, stop is above 1.1350 level, a target is at 1.1150 at least.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of USDX for September 14, 2016
The index is rallying above the 200 SMA on the H1 chart and the focus is placed at the 95.79 level, which is the last hurdle standing before the 96.00 psychological zone. With that being said, we're seeing that the USDX is trapped inside a sideways range, but a breakout above the 96.23 level should invalidate that pattern.
H1 chart's resistance levels: 95.79 / 96.23
H1 chart's support levels: 95.49 / 95.02
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.49, take profit is at 95.02 and stop loss is at 95.97.
More analysis - at instaforex.com
The index is rallying above the 200 SMA on the H1 chart and the focus is placed at the 95.79 level, which is the last hurdle standing before the 96.00 psychological zone. With that being said, we're seeing that the USDX is trapped inside a sideways range, but a breakout above the 96.23 level should invalidate that pattern.
H1 chart's resistance levels: 95.79 / 96.23
H1 chart's support levels: 95.49 / 95.02
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.49, take profit is at 95.02 and stop loss is at 95.97.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of USDX for September 15, 2016
USDX found strong sellers' reaction around at the 95.65 price level, and we're watching now that it struggles to consolidate below the 200 SMA on the H1 chart. If the index manages to do it, then we can expect a breakout below the 95.02 level in order to test the 94.74 zone. MACD indicator is supporting the bearish scenario.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.02 / 94.74
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.02, take profit is at 94.74 and stop loss is at 95.29.
More analysis - at instaforex.com
USDX found strong sellers' reaction around at the 95.65 price level, and we're watching now that it struggles to consolidate below the 200 SMA on the H1 chart. If the index manages to do it, then we can expect a breakout below the 95.02 level in order to test the 94.74 zone. MACD indicator is supporting the bearish scenario.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.02 / 94.74
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.02, take profit is at 94.74 and stop loss is at 95.29.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of USDX for September 16, 2016
The index found resistance at the 95.49 level, following the mixed data published in the US. Currently, the USDX is hovering around the 200 SMA area on H1 chart and we could expect a decline towards the support level of 95.02. If a breakout happens there in coming hours, then the next support at the 95.02 level could be tested.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.02 / 94.74
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.02, take profit is at 94.74 and stop loss is at 95.29.
More analysis - at instaforex.com
The index found resistance at the 95.49 level, following the mixed data published in the US. Currently, the USDX is hovering around the 200 SMA area on H1 chart and we could expect a decline towards the support level of 95.02. If a breakout happens there in coming hours, then the next support at the 95.02 level could be tested.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.02 / 94.74
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 95.02, take profit is at 94.74 and stop loss is at 95.29.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of GBP/USD for September 19, 2016
USDX had a strong rally last Friday and now we're seeing a consolidation above the 200 SMA on H1 chart. Currently, the index is facing the resistance zone of 96.14, which is the last hurdle before to reach the 96.50 level on a short-term basis. We should note that the USDX already did a rebound above the dynamic support offered by the 200-hour moving average and gave it a fresh momentum to the upside.
H1 chart's resistance levels: 96.14 / 96.51
H1 chart's support levels: 95.79 / 95.49
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 96.14, take profit is at 96.51 and stop loss is at 95.76.
More analysis - at instaforex.com
USDX had a strong rally last Friday and now we're seeing a consolidation above the 200 SMA on H1 chart. Currently, the index is facing the resistance zone of 96.14, which is the last hurdle before to reach the 96.50 level on a short-term basis. We should note that the USDX already did a rebound above the dynamic support offered by the 200-hour moving average and gave it a fresh momentum to the upside.
H1 chart's resistance levels: 96.14 / 96.51
H1 chart's support levels: 95.79 / 95.49
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 96.14, take profit is at 96.51 and stop loss is at 95.76.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of EUR/JPY for September 20, 2016
General overview for 20/09/2016:
The main scenario that included the triangle pattern possibility has been invalidated as the wave c green had broken below the support at the level of 113.81. Currently, the next best count is an impulsive structure in development that might have been completed already. The bottom for the wave (2) would be at the level of 113.48 and if the count is correct, then we should see an impulsive trend resumption to the upside.
Support/Resistance: 112.92 - WS1
113.41 - Intraday Support
114.00 - Golden Trend Line Support
114.29 - Intraday Resistance
114.49 - Weekly Pivot 115.04 - WR1
116.36 - Local Swing High
Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL just below the level of 113.40 and TP open for now.
More analysis - at instaforex.com
General overview for 20/09/2016:
The main scenario that included the triangle pattern possibility has been invalidated as the wave c green had broken below the support at the level of 113.81. Currently, the next best count is an impulsive structure in development that might have been completed already. The bottom for the wave (2) would be at the level of 113.48 and if the count is correct, then we should see an impulsive trend resumption to the upside.
Support/Resistance: 112.92 - WS1
113.41 - Intraday Support
114.00 - Golden Trend Line Support
114.29 - Intraday Resistance
114.49 - Weekly Pivot 115.04 - WR1
116.36 - Local Swing High
Trading recommendations:
Day traders should consider opening buy orders from current price levels with SL just below the level of 113.40 and TP open for now.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of USDX for September 22, 2016
The index had a bearish session during Wednesday, fueled by the Fed meeting and Yellen's comments, as the central bank didn't raise the interest rate but left the doors opened for a possible hike in December. By the way, the greenback is hovering below the 200 SMA and it could attempt a breakout of the 95.49 level. If that happens, then we may expect another decline towards the 95.00 level.
H1 chart's resistance levels: 95.79 / 96.14
H1 chart's support levels: 95.49 / 95.01
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.79, take profit is at 96.14 and stop loss is at 95.45.
More analysis - at instaforex.com
The index had a bearish session during Wednesday, fueled by the Fed meeting and Yellen's comments, as the central bank didn't raise the interest rate but left the doors opened for a possible hike in December. By the way, the greenback is hovering below the 200 SMA and it could attempt a breakout of the 95.49 level. If that happens, then we may expect another decline towards the 95.00 level.
H1 chart's resistance levels: 95.79 / 96.14
H1 chart's support levels: 95.49 / 95.01
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.79, take profit is at 96.14 and stop loss is at 95.45.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of USDX for September 28, 2016
The index failed to consolidate above the 200 SMA at H1 chart during Tuesday's session, the day of the US presidential debate. Currently, it's expected that the USDX index can resume the bearish bias to reach the psychological level of 95.00. However, if we see a breakout above the resistance level of 95.79, then further gains are expected. MACD indicator is showing overbought conditions.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.01 / 94.61
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.49, take profit is at 95.79 and stop loss is at 95.19.
More analysis - at instaforex.com
The index failed to consolidate above the 200 SMA at H1 chart during Tuesday's session, the day of the US presidential debate. Currently, it's expected that the USDX index can resume the bearish bias to reach the psychological level of 95.00. However, if we see a breakout above the resistance level of 95.79, then further gains are expected. MACD indicator is showing overbought conditions.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.01 / 94.61
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.49, take profit is at 95.79 and stop loss is at 95.19.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of USDX for September 29, 2016
There is nothing new in the Dollar index as the price remains trapped inside the medium-term trend triangle pattern and inside the short-term trading range. Traders should better be cautious and patient and focus on 96.50 and 94.60 levels.
Green lines - trading range
Blue line - important support trend line
Red line - important resistance trend line
The Dollar index is trading below the Ichimoku cloud but still inside the trading range. The price is still inside the triangle pattern depicted by the red and blue trend lines. Short-term support is at 95.25 while resistance lies at 95.70. A breakout of this short-term trading range may push the index towards the triangle boundaries.
Green line -support
The price continues to trade sideways above the green trend line support and below the Ichimoku cloud. There is no clear trend as we trade sideways. Traders need to be patient and wait untill the market provides a breakout.
More analysis - at instaforex.com
There is nothing new in the Dollar index as the price remains trapped inside the medium-term trend triangle pattern and inside the short-term trading range. Traders should better be cautious and patient and focus on 96.50 and 94.60 levels.
Green lines - trading range
Blue line - important support trend line
Red line - important resistance trend line
The Dollar index is trading below the Ichimoku cloud but still inside the trading range. The price is still inside the triangle pattern depicted by the red and blue trend lines. Short-term support is at 95.25 while resistance lies at 95.70. A breakout of this short-term trading range may push the index towards the triangle boundaries.
Green line -support
The price continues to trade sideways above the green trend line support and below the Ichimoku cloud. There is no clear trend as we trade sideways. Traders need to be patient and wait untill the market provides a breakout.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of USDX for October 4, 2016
The Dollar index has broken short-term resistance levels and is testing horizontal resistance where a previous double top rejection occurred. Short-term trend is bullish with increased chances of making medium-term trend bullish again as we are heading towards 96.50 resistance.
Red line - resistance Black line - horizontal resistance Blue line -support The Dollar index is above the 4-hour Ichimoku cloud and is breaking above and out of the triangle pattern. Next resistance is at the previous highs at 96.50. A clear break above that level will open the way for a push towards 97.50. Support is found at 95.70. The next one is at 95.
Green line - important medium-term support
The Dollar index is holding above the green trend line support and is now testing the Ichimoku cloud resistance at 96.50. A break above it will be a bullish sign. Bulls will need to defend the green trend line support no matter what. Otherwise a huge wave of sellers will come. A break out above the weekly cloud will open the way for new highs.
More analysis - at instaforex.com
The Dollar index has broken short-term resistance levels and is testing horizontal resistance where a previous double top rejection occurred. Short-term trend is bullish with increased chances of making medium-term trend bullish again as we are heading towards 96.50 resistance.
Red line - resistance Black line - horizontal resistance Blue line -support The Dollar index is above the 4-hour Ichimoku cloud and is breaking above and out of the triangle pattern. Next resistance is at the previous highs at 96.50. A clear break above that level will open the way for a push towards 97.50. Support is found at 95.70. The next one is at 95.
Green line - important medium-term support
The Dollar index is holding above the green trend line support and is now testing the Ichimoku cloud resistance at 96.50. A break above it will be a bullish sign. Bulls will need to defend the green trend line support no matter what. Otherwise a huge wave of sellers will come. A break out above the weekly cloud will open the way for new highs.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical Analysis of Silver for October 05, 2016
Technical outlook and chart setups:
Silver has broken below the consolidation structure around $18.60 levels and is still expected to continue decline to $16.00 level at least. The wave structure also indicates that the metal is in its C wave correction within the 3 wave A-B-C drop that began from $21.10 levels earlier. Please note that the metal may produce intraday rallies towards $18.20/30 levels which should be considered as opportunities to sell again. The metal looks to be in its 3rd wave within 5 waves into the C wave as depicted here, hence expect lower levels. It is recommended to remain short for now and look to add further at higher levels. Immediate resistance is seen at $20.10 levels, while support lies at $17.00 levels.
Trading recommendations:
Remain short for now, stop above $20.05, target is open.
More analysis - at instaforex.com
Technical outlook and chart setups:
Silver has broken below the consolidation structure around $18.60 levels and is still expected to continue decline to $16.00 level at least. The wave structure also indicates that the metal is in its C wave correction within the 3 wave A-B-C drop that began from $21.10 levels earlier. Please note that the metal may produce intraday rallies towards $18.20/30 levels which should be considered as opportunities to sell again. The metal looks to be in its 3rd wave within 5 waves into the C wave as depicted here, hence expect lower levels. It is recommended to remain short for now and look to add further at higher levels. Immediate resistance is seen at $20.10 levels, while support lies at $17.00 levels.
Trading recommendations:
Remain short for now, stop above $20.05, target is open.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of gold for October 6, 2016
Gold price remains in a short-term bearish trend approaching the first important medium-term support levels of $1,250 where I
Red line - resistance trend line
Blue lines - bearish channel
Gold price is inside a downward sloping bearish channel. With short-term oscillators starting to give some bullish divergence signals, we are soon to expect a bounce most probably towards the red trend line resistance which was once support. Only above $1,330-50 we will have a medium-term trend reversal signal.
Gold price is correcting the entire rise from $1,045 and this is most probably the first part of the decline expected to reach $1,250. A bounce towards $1,300-$1,330 will then be expected. The final and third part of the correction could push price towards $1,170. This is a rough roadmap on what we could expect.
More analysis - at instaforex.com
Gold price remains in a short-term bearish trend approaching the first important medium-term support levels of $1,250 where I
Red line - resistance trend line
Blue lines - bearish channel
Gold price is inside a downward sloping bearish channel. With short-term oscillators starting to give some bullish divergence signals, we are soon to expect a bounce most probably towards the red trend line resistance which was once support. Only above $1,330-50 we will have a medium-term trend reversal signal.
Gold price is correcting the entire rise from $1,045 and this is most probably the first part of the decline expected to reach $1,250. A bounce towards $1,300-$1,330 will then be expected. The final and third part of the correction could push price towards $1,170. This is a rough roadmap on what we could expect.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of USDX for October 7, 2016
With the British pound collapsing overnight and a widespread Dollar strength, price has broken above important support levels and previous short-term highs. Is this a real breakout or a fake one as a result of a thin overnight market? With the announcement of the NFP today, a very interesting trading day is promised.
Blue lines - bullish channel
The Dollar index remains in its bullish upward sloping channel. Price is now testing the upper channel boundaries. Trend remains bullish. Support is at 96.25 and if broken we could see a decline towards 95.75. Below 95.50 we will have a confirmation of a fake breakout and a very important bearish reversal signal.
On a weekly basis we finally see the weekly candle break above the weekly cloud resistance. This is an important bullish signal for the longer-term trend of the Dollar index. A rejection today could only be caused by the NFP numbers announced later in the day. A rejection here will be a very bearish signal. Important support levels are now at this week's lows and at 95.20. Next important resistance is at 97.60 the July high. A break above it will increase the chances of a new bull trend starting targeting new highs above 102-103.
More analysis - at instaforex.com
With the British pound collapsing overnight and a widespread Dollar strength, price has broken above important support levels and previous short-term highs. Is this a real breakout or a fake one as a result of a thin overnight market? With the announcement of the NFP today, a very interesting trading day is promised.
Blue lines - bullish channel
The Dollar index remains in its bullish upward sloping channel. Price is now testing the upper channel boundaries. Trend remains bullish. Support is at 96.25 and if broken we could see a decline towards 95.75. Below 95.50 we will have a confirmation of a fake breakout and a very important bearish reversal signal.
On a weekly basis we finally see the weekly candle break above the weekly cloud resistance. This is an important bullish signal for the longer-term trend of the Dollar index. A rejection today could only be caused by the NFP numbers announced later in the day. A rejection here will be a very bearish signal. Important support levels are now at this week's lows and at 95.20. Next important resistance is at 97.60 the July high. A break above it will increase the chances of a new bull trend starting targeting new highs above 102-103.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Daily analysis of GBP/USD for October 10, 2016
GBP/USD plummeted to a new multi-year low below the 1.2000 handle during early Friday's session, but it managed to recover some ground following that flash crash. Currently, the pair is being supported by the 1.2388 level and weakness is still alive. A breakout below that zone should help to extend the decline towards the 1.2312 level.
H1 chart's resistance levels: 1.2468 / 1.2552
H1 chart's support levels: 1.2388 / 1.2312
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2388, take profit is at 1.2312 and stop loss is at 1.2464.
More analysis - at instaforex.com
GBP/USD plummeted to a new multi-year low below the 1.2000 handle during early Friday's session, but it managed to recover some ground following that flash crash. Currently, the pair is being supported by the 1.2388 level and weakness is still alive. A breakout below that zone should help to extend the decline towards the 1.2312 level.
H1 chart's resistance levels: 1.2468 / 1.2552
H1 chart's support levels: 1.2388 / 1.2312
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2388, take profit is at 1.2312 and stop loss is at 1.2464.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of Gold for October 11, 2016
Gold price continues to trade inside the downward sloping channel despite the bounce from $1,241 to $1,266. The current price formation implies that this is just a pause in the downward trend and a new low towards $1,215 should follow. However, this will change only if we see a break above $1,266.
Dark blue lines - bearish channel
Price is below the Ichimoku cloud and inside the bearish channel. Price drop has stopped just above the 78.6% Fibonacci retracement of the rise from $1,200 to $1,375. Short-term support is at $1,255 while resistance is at $1,266.
On a weekly basis price has stopped the decline at the 38% Fibonacci retracement of the entire rise from $1,045. A bounce should come from these levels but if we break to new lows, price will be in danger of reaching $1,214 and the weekly Ichimoku cloud support and also 50% Fibonacci retracement. My longer-term view remains bullish. This downward move could bring price even towards $1,170 but this will be a gift for bulls.
More analysis - at instaforex.com
Gold price continues to trade inside the downward sloping channel despite the bounce from $1,241 to $1,266. The current price formation implies that this is just a pause in the downward trend and a new low towards $1,215 should follow. However, this will change only if we see a break above $1,266.
Dark blue lines - bearish channel
Price is below the Ichimoku cloud and inside the bearish channel. Price drop has stopped just above the 78.6% Fibonacci retracement of the rise from $1,200 to $1,375. Short-term support is at $1,255 while resistance is at $1,266.
On a weekly basis price has stopped the decline at the 38% Fibonacci retracement of the entire rise from $1,045. A bounce should come from these levels but if we break to new lows, price will be in danger of reaching $1,214 and the weekly Ichimoku cloud support and also 50% Fibonacci retracement. My longer-term view remains bullish. This downward move could bring price even towards $1,170 but this will be a gift for bulls.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of USDX for October 12, 2016
The Dollar index has broken above critical trend line resistance. Price is in a bullish trend and looks ready to challenge the previous highs. 98.60 is the next important hurdle to surpass in order to continue higher. Short-term view justifies a pullback.
Dark blue lines - bullish channel
Blue line - critical long-term support
The Dollar index is testing the upper channel boundary. With oscillators overbought, I expect price to get rejected at current levels and pull back at least towards the lower channel boundary at 97. Price is above the Ichimoku cloud and this confirms the bullish trend.
Red line - resistance
Green line - long-term support
Price has broken above both the weekly Ichimoku cloud and the downward sloping red trend line resistance. Next resistance is found at 98.60 where the 78.6% Fibonacci retracement of the decline from 100.50 to 91.90. Only a reversal and a new low below this week's lows will be a bearish reversal signal. All other pullbacks are considered to be buy opportunities.
More analysis - at instaforex.com
The Dollar index has broken above critical trend line resistance. Price is in a bullish trend and looks ready to challenge the previous highs. 98.60 is the next important hurdle to surpass in order to continue higher. Short-term view justifies a pullback.
Dark blue lines - bullish channel
Blue line - critical long-term support
The Dollar index is testing the upper channel boundary. With oscillators overbought, I expect price to get rejected at current levels and pull back at least towards the lower channel boundary at 97. Price is above the Ichimoku cloud and this confirms the bullish trend.
Red line - resistance
Green line - long-term support
Price has broken above both the weekly Ichimoku cloud and the downward sloping red trend line resistance. Next resistance is found at 98.60 where the 78.6% Fibonacci retracement of the decline from 100.50 to 91.90. Only a reversal and a new low below this week's lows will be a bearish reversal signal. All other pullbacks are considered to be buy opportunities.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
Technical analysis of Gold for October 13, 2016
Gold price has broken out of a short-term triangle pattern looking for a move higher towards $1,280-$1,300 at least. The $1,250 was an important support level and bouncing off this area was very possible as we expected. Could the entire decline be over at the last low?
Red lines - triangle pattern
Gold price has short-term resistance at the 4-hour Ichimoku cloud at $1,272. A break above it will open the way for a bounce higher towards $1,300 where the breakdown occurred. A backtest of the breakdown area is very possible. Support is at $1,250. If broken, we expect a move lower towards $1,220.
Green line -long term resistance trend line
I remain long-term bullish about Gold. Gold has made a weekly breakout above cloud resistance. Price got rejected at the downward sloping trend line from its all time highs. Price could pull back towards the Ichimoku cloud support but eventually I expect Gold price to break above the green trend line.
More analysis - at instaforex.com
Gold price has broken out of a short-term triangle pattern looking for a move higher towards $1,280-$1,300 at least. The $1,250 was an important support level and bouncing off this area was very possible as we expected. Could the entire decline be over at the last low?
Red lines - triangle pattern
Gold price has short-term resistance at the 4-hour Ichimoku cloud at $1,272. A break above it will open the way for a bounce higher towards $1,300 where the breakdown occurred. A backtest of the breakdown area is very possible. Support is at $1,250. If broken, we expect a move lower towards $1,220.
Green line -long term resistance trend line
I remain long-term bullish about Gold. Gold has made a weekly breakout above cloud resistance. Price got rejected at the downward sloping trend line from its all time highs. Price could pull back towards the Ichimoku cloud support but eventually I expect Gold price to break above the green trend line.
More analysis - at instaforex.com
InstaForex Gertrude
Active member
USD/CAD intraday technical levels and trading recommendations for October 14, 2016
On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.
On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.
Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) is needed to enhance bearish momentum in the market.
However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000. This week, daily persistence below 1.2950 (61.8% Fibonacci level) should be achieved in order to enhance the bearish side of the market. Initial bearish targets are located at 1.2670 and 1.2580.
Otherwise, daily persistence above 1.3000 (61.8% Fibonacci level) opens the way towards the price level of 1.3300 (50% Fibonacci level) where price action should be watched for a better SELL entry with a lower risk/reward ratio.
More analysis - at instaforex.com
On May 16, a bullish pullback towards 1.3000 (61.8% Fibonacci level) was expected to offer a valid signal to sell the USD/CAD pair. However, a lack of a significant bearish rejection was manifested during recent consolidations.
On May 18, temporary bullish fixation above 1.3000 (61.8% Fibonacci level) opened the way towards the 1.3180 level where significant bearish pressure was originated.
Bearish persistence below 1.3000-1.2970 (61.8% Fibonacci level) is needed to enhance bearish momentum in the market.
However, on August 18 signs of bullish recovery were manifested around the price level of 1.2830 which led to the current bullish breakout above 1.3000. This week, daily persistence below 1.2950 (61.8% Fibonacci level) should be achieved in order to enhance the bearish side of the market. Initial bearish targets are located at 1.2670 and 1.2580.
Otherwise, daily persistence above 1.3000 (61.8% Fibonacci level) opens the way towards the price level of 1.3300 (50% Fibonacci level) where price action should be watched for a better SELL entry with a lower risk/reward ratio.
More analysis - at instaforex.com